The coronavirus pandemic, "major shock" for the economy in the euro zone, requires an "ambitious and coordinated budget response" estimated Thursday the President of the European Central Bank, Christine Lagarde.
The ECB notes a "considerable worsening of short-term growth prospects" in the euro zone, she explained, while returning the ball to the camp of states after the series of monetary support measures announced by the ECB.
The euro area is facing the rapid spread of the new coronavirus, which is disrupting daily life until the closure of entire regions and the closing of borders.
The pandemic is affecting supply chains and "the necessary containment measures" are affecting activity much more widely, said Lagarde.
ECB experts predict 0.8% growth in 2020 according to projections published Thursday, against 1.4% expected in December. But these forecasts, adopted on February 24, "are no longer up to date" and do not take into account the most recent developments in the disease.